2017 (3) TMI 1684 - HC - Income Tax

Appeal Dismissed in Sudhir Agarwal v. Ravindra Nath Mishra-II (2017)

The Allahabad High Court dismissed the appeal in the case of Sudhir Agarwal v. Ravindra Nath Mishra-II (2017). The appeal was referenced as Order in ... Capital gain on transfer of converted shares - partnership firm - contention of Assessees that share were converted into stock in trade thus no capital gain - Held that:- Dismissed. See order of date passed in THE COMMISSIONER OF INCOME TAX-I, LUCKNOW VERSUS BIJAI KUMAR JAIN, S.K. JAIN, RAVI PRAKASH SINGH, RAJENDER SINGH, D.K. KADKADE, RAVI PRAKASH SINGH [2017 (5) TMI 300 - ALLAHABAD HIGH COURT] ALLAHABAD HIGH COURT; Citation: 2017 (3) TMI 1684. The petition was disposed with the operative direction: 'Dismissed.' The decision directs reference to the prior order in Income Tax Appeal No. 11 of 2006 for further particulars and operative reasoning: 'See order of date passed in Income Tax Appeal No. 11 of 2006.' No separate or expanded legal reasoning is provided in the record; the current judgment adopts and relies upon the reasoning and conclusions set forth in the cited Income Tax Appeal. Parties are therefore bound by the earlier adjudication referenced, and any legal questions contemplated by this filing are resolved by incorporation of the prior order.